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BPI vs. IAC G.R. No.

69162 February 21, 1992 Griño-Aquino, J: Facts: Spouses Arthur and Vivienne Canlas opened a joint current account in CBTC, which was later merged with BPI, with an initial deposit of P2,250. Prior thereto, Arthur had an existing separate personal checking account in the same branch. When the spouses opened their joint current account, the “new accounts” teller of the bank pulled out from the bank’s files the old and existing signature card of Arthur for use as ID and reference. By mistake, she placed the old personal account number of Arthur on the deposit slip for the new joint checking account of the spouses so that the initial deposit of P2,250 for the joint checking account was miscredited to Arthur’s personal account. The spouses subsequently deposited other amounts in their joint account. However, when Vivienne issued a check for P1,639.89 and another check for P1,160.00, one of the checks was dishonored by the bank for insufficient funds and a penalty of P20 was deducted from the account in both instances. Issue: Whether or not the bank is liable for damages. Held: Yes. In Simex International, Inc. vs Court of Appeals, the Court stressed the fiduciary nature of the relationship between a bank and its depositors and the extent of diligence expected of it in handling the accounts entrusted to its care. The bank is not expected to be infallible but, in this instance, it must bear the blame for not discovering the mistake of its teller despite the established procedure requiring the papers and bank books to pass through a battery of bank personnel whose duty it is to check and countercheck them for possible errors. Apparently, the officials and employees tasked to do that did not perform their duties with due care.